During the Great Depression of the 1930s, the unemployment rate in the United States peaked at around
a. 5 percent
b. 10 percent
c. 12 percent
d. 25 percent
e. 50 percent
D
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Which of the following is not an appropriate policy for a central bank to follow if the economy is plagued with deflation?
A) consistently pursuing policy to promote the credibility of the central bank B) explicitly and credibly targeting inflation C) using expansionary monetary policy to drive down interest rates D) increasing the target interest rate on overnight loans
The price of an airline ticket from Denver to Chicago costs $450. A bus ticket costs $150. Traveling by plane takes 2 hours compared with 32 hours by bus. Other things constant, Erica would gain by choosing air travel if, and only if, she values her time at more than
A) $5 per hour. B) $300 per hour. C) $10 per hour. D) $9.38 per hour.
Scenario: Not-So-Free Freeland Freeland is a semi-closed economy whose government believes in protecting national identity and building a self-sustained economy. The government's priority is to protect local jobs and provide opportunities to Freeland's emerging industries to flourish without the threat of external competition. Freeland's efforts to provide opportunities to its emerging industries is an example of its ________.
a. economic motive b. culture motive c. political motive d. social motive
When the demand for coffee increases, ceteris paribus, the equilibrium price will also increase because
A. The market supply and demand curves do not intersect. B. A shortage exists at the old equilibrium price. C. Market demand must be upward-sloping. D. There must be a surplus of the good.